Yukon Metals Commences Fieldwork at Star River Vancouver, B.C., Ju ly 17, 2024. Yukon Metals Corp. (CSE: YMC , FSE: E770) , the “Company” or “Yukon Metals”, is pleased to announce that it has begun reconnaissance field
1000-1055 W. Hastings St. Vancouver BC V6E 2E9 | [email protected] | yukonmetals.com |
1
Yukon Metals Commences Fieldwork at Star River
Vancouver, B.C., Ju ly 17, 2024. Yukon Metals Corp. (CSE: YMC , FSE: E770) , the
“Company” or “Yukon Metals”, is pleased to announce that it has begun reconnaissance field
work at the Star River Project located 50 kilometres due south of Ross River, Yukon.
Initial fieldwork by Yukon Metals located new mineralized outcropping that was not previously
mapped in the vicinity of several of the historic workings. Further geochemical sampling and
mapping programs this season will help to delineate these new areas of mineralization.
Rory Quinn, President & CEO stated, “We are hugely encouraged by the extensive surface
exposure of mineralization found at Star River as well as new areas of interest in the
southern part of the property that ha ve seen little to no previous exploration . In addition,
numerous historic tracks and access roads have been located that will b e useful for
facilitating future ‘boots on the g round’ exploration.” said Rory Quinn, President and Chief
Executive Officer. “The LiDAR survey , completed July 6 th, will provide enhanced ground
visibility of the whole property while the upcoming gravity survey will explore for dense
drill targets.”
Vision Quest, a Yukon First Nations-owned exploration contractor working closely with Yukon
Metals, has commenced ground preparation in advance of an upcoming surface geophysical
program. A detailed drone LiDAR topographic survey on the project has already been
completed and interpretation is underway.
Yukon Metals will explore this area using a gravity geophysics survey exploring for dense
and metalliferous drill targets as well as an electromagnetic survey to prospect for coincident
conductive horizons. Detailed geologic mapping and geochemical soil sampling will occur
concurrently.
About the Star River Project
Yukon Metals owns 100% of the 716-hectare, Star River base and precious metals project
accessible by road from the Robert Campbell Highway and former Ketza Mine Road. The
project is host to multiple showings of polymetallic carbonate replacement mineralization and
quartz-sulphide veins first discovered in the 1950s. Remnants of underground and surface
workings using historical exploration techniques are visible around much of the property and
tied together with a network of roads and trails surrounding the Ketza Mine.
1000-1055 W. Hastings St. Vancouver BC V6E 2E9 | [email protected] | yukonmetals.com |
2
Figure 1: Previously mapped geology on the Star River project (AR 061867 & Templeman -Kluit, OF 5487).
Several of the historic showings that are high priority targets for further exploration include
Key3, Lap 10, and F2-F3. Key3 and Lap 10 are occurrences on the project that are noted in
literature as occurring in the Seagull Group rocks. The F2 and F3 mineralization occurs in
the Askin Group and Porcupine Formation (OF 5487 Templeman-Kluit p78).
1000-1055 W. Hastings St. Vancouver BC V6E 2E9 | [email protected] | yukonmetals.com |
3
Key3 is a historic working of a semi -massive lense of galena with minor sphalerite,
tetrahedrite, chalcopyrite and jamesonite about 7.3m long which reportedly averaged 1028.5
g/t Ag and 18% Pb across an average width of 0.9m. Historical individual assays have
recorded up to 17,142 g/t Ag. Discontinuous mineralization was traced in the 1950-1980's for
82 metres with bulldozers and short exploration adits but was never explored at depth or
along strike despite three gossans occurring on surface and other small veins in the area.
Lap10 is recorded as having a known strike length of 137m to the north at 045 degrees and
cuts into the Cambrian and Ordovician rocks. It has a fairly continuous band of galena with
a historical indicated grade of 12,000 g/t Ag and 38% Pb over a width of 1.07m for 137m
length. This showing was explored by bulldozer and adit in the 1950's and 60's. Little effort
was made to explore further and the showing has sat unexplored for decades.
Yukon Metals will employ the same exploration efforts on Lap10 as Key3a and explore any
continuity of mineralization and structural controls between the two areas which are
approximately 1.2 kilometers apart and in the same rocks.
The F2 - F3 zone occurs in similar geology to the past produc ing Ketza Mine which is
approximately 5 kilometers due west. The F2 and F3 zone has historically found Au, Ag and
Pb in veins in the Askin Group limestone and Porcupine Formation orthoquartzites. The F3
zone found mineralized surface exposure 120 feet long d iscovery showing found 86 oz/ton
and 50% lead over a 5-meter width (AR 018888, 1968; AR 019895, 1967). The F2 vein was
historically noted as having "0.63 oz/t Au across 2.3 feet for a length o f 30 feet" in an Iona
Silver Mines assessment report from 1971 (AR 061651). Despite the interesting results in
the F2 and F3 showings area plus other work on Canyon and Gem showings area,
subsequent work by previous mining companies in the area focused on the Key18 past
producer.
The F2, F3, Canyon and Gem showings will be further explored by gravity geophysical
methods to discover dense and metalliferous drill targets. An electromagnetic survey will be
used in this area as well to discover any conductive horizons that are coincident with any
gravity anomalies.
Qualified Person
The technical content of this news release has been reviewed and approved by Helena
Kuikka, P.Geo., as the Qualified Person (as defined by National Instrument 43-101).
1000-1055 W. Hastings St. Vancouver BC V6E 2E9 | [email protected] | yukonmetals.com |
4
About Yukon Metals Corp.
Yukon Metals is well financed and represents a property portfolio built on over 30 years
of prospecting by the Berdahl family, the prospecting team behind Snowline Gold’s
portfolio of primary gold assets. The Yukon Metals portfolio consists primarily of copper -
gold and silver-lead-zinc assets, with a substantial gold and silver component. The Company
is led by an experienced Board of Directors and Management Team across technical and
finance disciplines.
Yukon Metals is focused on fostering sustainable growth and prosperity within Yukon's local
communities, while simultaneously enhancing shareholder value. Our strategy centers
around inclusivity and shared prosperity, offering both community members and in vestors
the chance to contribute to, and benefit from, our ventures.
The Yukon
The Yukon ranks 10 th most prospective for mineral potential across global jurisdictions
according to the Fraser Institute’s 2023 Survey of Mining Companies, and is host to a highly
experienced and conscientious local workforce, fostered by a long culture of exploration
coupled with deep respect for the land. Recent major discoveries with local roots such as
Snowline Gold’s Rogue Project - Valley Discovery, demonstrate the Yukon’s potential to
generate fresh district-scale mining opportunities.
YUKON METALS CORP.
“Rory Quinn”
Rory Quinn, President & CEO
Email: [email protected]
For more information about Yukon Metals, please contact:
Monica Hamm, Vice President, Investor Relations
Email: [email protected] or [email protected]
Phone: 778-389-9928
1000-1055 W. Hastings St. Vancouver BC V6E 2E9 | [email protected] | yukonmetals.com |
5
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward -looking information, including information about the
incremental release from escrow of the Consideration Shares, the resumption of trading of the
Common Shares and the Company’s future plans and intentions. Wherever possible, words such as
“may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”
or “potential” or the negative or other variations of these words, or similar words or phrases, have
been used to iden tify the forward -looking information. These statements reflect management’s
current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking information involves significant risks, uncertainties and assumptions. Many factors
could cause actual results, performance or achievements to differ materially from those discussed or
implied in the forward -looking information. Such factors include, among other things: risks and
uncertainties r elating to the incremental release from escrow of the Consideration Shares; the
resumption of trading of the Common Shares; and other risks and uncertainties. See the section
entitled “Risk Factors” in the Company’s listing statement dated May 30, 2024, av ailable under the
Company’s profile on SEDAR+ at www.sedarplus.ca. These factors should be considered carefully,
and readers should not place undue reliance on the forward -looking information. Although the
forward-looking information contained in this news release is based upon what management believes
to be reasonable assumptions, the Company cannot assure readers that actual results will be
consistent with the forward -looking information. The forward -looking information is made as of the
date of this news release, and the Company assumes no obligation to update or revise the information
to reflect new events or circumstances, except as required by law.